Import Goods
Import prices increased for the first time since July, advancing 0.5 percent in March after edging
down 0.1 percent in February. The March advance was led by a 10.5 percent rise in petroleum prices.
The price index for petroleum increased for the second consecutive month after falling 69.2 percent from
July through January. In contrast, nonpetroleum prices decreased for the eighth consecutive month,
falling 0.7 percent in March. For the year ended in March, petroleum prices fell 52.0 percent and prices
for nonpetroleum imports declined 3.7 percent.
The continued decline in nonpetroleum prices was led by a 2.3 percent drop in nonpetroleum
industrial supplies and materials prices. That decrease was driven by a sharp fall in natural gas prices,
although lower prices for some metals also contributed to the decline. The price index for nonpetroleum
industrial supplies and materials has not recorded an increase since July 2008.
Lower prices for finished goods also contributed to the drop in nonpetroleum prices in March.
Prices for consumer goods fell 0.5 percent following a 0.1 percent advance in February. The price index
for capital goods declined 0.3 percent in March, led by falling prices for industrial and service
machinery. Import automotive vehicle prices edged down 0.2 percent in March after increasing 0.2
percent in each of the previous two months.
Prices for foods, feeds, and beverages decreased 1.0 percent this month primarily because of
lower fruit prices. The March drop followed a 3.2 percent decline in February.
Export Goods
Export prices decreased 0.6 percent in March because of lower prices for both agricultural and
nonagricultural exports. The index decreased 9.8 percent over the past eight months and 6.7 percent for
the year ended in March. Agricultural prices fell 3.5 percent in March, led by declines for soybeans,
corn, and wheat. Agricultural export prices decreased 21.8 percent over the past year, the largest annual
decrease since the index was first published in March 1985. Nonagricultural prices edged down 0.3
percent in March and fell 5.0 percent over the past 12 months.
The drop in nonagricultural prices was led by a 0.9 percent decrease in the index for
nonagricultural industrial supplies and materials. Lower prices for fuels and chemicals contributed to
the decline. Nonagricultural industrial supplies and materials decreased 23.2 percent over the past eight
months and 17.3 percent for the March 2008-2009 period, the largest annual decrease since the index
was first published in September 1989.
Prices for the major finished goods categories were mixed in March. Consumer goods prices
contributed to the decline in overall export prices, falling 0.5 percent. Despite the recent decreases, the
index increased 0.5 percent for the year ended in March. In contrast, the price index for automotive
vehicles increased in March, rising 0.2 percent. Automotive vehicle prices advanced 1.1 percent over
the past year. The price index for capital goods was unchanged this month as lower prices for computers
offset higher prices for transportation equipment. Prices for capital goods increased 1.0 percent for the
March 2008-2009 period.
Imports by Locality of Origin
Prices for imports from China fell for the seventh consecutive month, decreasing 0.6 percent in
March. Import prices from China edged down 0.2 percent for the year ended in March.
Import prices from Canada and from Mexico also continued to decline in March, falling 0.7
percent and 0.1 percent, respectively. Prices for imports from Canada fell for the eighth consecutive
month, and decreased 18.4 percent over the past year, the largest annual decline since the index was first
published in December 1990. The price index for imports from Mexico decreased 11.7 percent for the
March 2008-2009 period, the largest annual decline since the index was first published in December
2003.
The price index for imports from Japan also fell, decreasing 0.1 percent in March after increasing
in each of the previous five months. Despite the downturn this month, the index rose 1.8 percent over
the past year.
In contrast, prices for imports from the European Union rose in March, advancing 0.1 percent for
the month. The index, however, decreased 4.0 percent over the past 12 months.
Import and Export Services
Import air passenger fares decreased 4.7 percent in March following a 4.6 percent drop the
previous month. The March decrease was again led by lower European fares, which fell 7.8 percent after
decreasing 5.7 percent in February. Despite the recent downward pattern, the index for import air
passenger fares rose 2.7 percent for the year ended in March. Export air passenger fares also decreased
in March, falling 5.1 percent as lower fares from Europe, the Latin America/Caribbean region, and Asia
all contributed to the overall decrease. Fares for export air passengers decreased 10.5 percent over the
past 12 months, the largest annual decline since the index was first published in September 1986.
Import air freight prices fell 2.2 percent in March, as both European and Asian air freight prices
declined. The price index for import air freight decreased 8.0 percent over the past year. Prices for
export air freight declined 2.8 percent in March and 7.0 percent for the March 2008-2009 period.
CONTENTS OF RELEASE
This news release includes the following tables:
Table 1 U.S. Import Price Indexes, by End Use
Table 2 U.S. Export Price Indexes, by End Use
Table 3 U.S. Import Price Indexes, by NAICS
Table 4 U.S. Export Price Indexes, by NAICS
Table 5 U.S. Import Price Indexes, by Harmonized System
Table 6 U.S. Export Price Indexes, by Harmonized System
Table 7 U.S. Import Price Indexes, by Locality of Origin
Table 8 U.S. International Price Indexes for Selected Transportation Services
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Import and Export Price Index data for April 2009 are scheduled for release on May 13, 2009 at
8:30 A.M. (EDT).

Table 1. U.S. import price indexes and percent changes for selected categories of goods: March 2008 to March 2009 2000=100, unless otherwise noted

Footnotes(1) Relative importance figures for Air Passenger Fares Indexes are based on 2007 trade values, while the relative importance figures for the Air Freight Indexes are based on 2006 trade values.

NOTES: Data may be revised in each of the three months after original publication.
Dash = Not available

TECHNICAL NOTE
Import and Export Merchandise and Services Price Indexes -- All indexes use a modified Laspeyres
formula and are not seasonally adjusted. Price indexes for merchandise goods are reweighted annually,
with a two-year lag in the weights. Published series use a base year of 2000=100 where possible. More
detailed index series and additional information may be obtained at http://www.bls.gov/mxp, or by
calling (202) 691-7101.
Merchandise Goods Classification Systems -- The merchandise price indexes are published using
three classification systems. Items are classified by end use according to the Bureau of Economic
Analysis Classification System, by industry according to the North American Industry Classification
System (NAICS), and by product category according to the Harmonized System (HS). While
classification by end use and product category are self-explanatory, some notes are in order for
classifying items by industry. In the NAICS imports and exports tables, items are classified by output
industry, not input industry. As an example, NAICS import index 326 (plastics and rubber products
manufacturing) include outputs such as manufactured plastic rather than inputs such as petroleum. The
NAICS classification structure also matches the classification system used by the PPI (Producer Price
Index) to produce the NAICS primary products indexes.
Import Price Indexes -- Products have been classified by the Harmonized Tariff Schedule of the United
States Annotated (TSUSA). Import prices are based on U.S. dollar prices paid by the U.S. importer.
The prices are generally either "free on board" (f.o.b.) foreign port or "cost, insurance, and freight"
(c.i.f.) U.S. port transaction prices, depending on the practices of the individual industry. The index for
crude petroleum is calculated from data collected by the U.S. Department of Energy.
Export Price Indexes -- Products have been classified by the Harmonized Schedule B classification
system of the U.S. Bureau of the Census. The prices used are generally either "free alongside ship"
(f.a.s.) factory or "free on board" (f.o.b.) transaction prices, depending on the practices of the individual
industry. Prices used in the grain index, excluding rice, are obtained from the U.S. Department of
Agriculture.
Services Price Indexes -- Starting in September 2008 the Import Air Passenger Fares Indexes represent
changes in the average revenue per passenger received by foreign carriers from U.S. residents and are
calculated from data obtained from an airline consulting service. These data include tickets sold by
travel agencies and travel websites. Tickets sold directly by the airlines are excluded, as are frequent
flyer tickets generally. Starting in January 2008 the Export Air Passenger Fares Indexes represent
changes in the average revenue per passenger received by U.S. carriers from foreign residents and are
calculated from data collected directly from airlines. These data include frequent flyer tickets and those
sold by consolidators. Taxes and fees are excluded from both indexes. The Air Freight Indexes are
calculated from data collected directly from airlines. These data exclude mail and passenger baggage.
The scope of the service being priced is the movement of freight from airport to airport only, and does
not include any ground transportation or port service. The Air Freight Indexes are presented using two
definitions: Balance of Payments (which represent transactions between U.S. and foreign residents) and
International (which represent transactions inbound to and outbound from the U.S.). Fact sheets
specifying detailed information for each services industry are available at http://www.bls.gov/mxp under
"MXP Publications".
Import Indexes by Locality of Origin -- Prices used in these indexes are a subset of the data collected
for the Import Price Indexes. Beginning with January 2002, the indexes are defined by locality of origin
using a nomenclature based upon the North American Industry Classification System (NAICS).
Nonmanufactured goods are defined as NAICS 11 and 21 and manufactured goods are defined as
NAICS 31-33.
Revision Policy -- To reflect the availability of late reports and corrections by respondents, monthly data
may be revised in each of the three months after original publication. After three months, no further data
revisions take place. So, for example, data released in the January release will be subject to revision in
the releases for February, March, and April.
Uses of the Data -- The primary use of the indexes is to deflate trade statistics, notably the foreign trade
sector of the National Income and Product Accounts constructed by the Department of Commerce.
Other published indexes are useful for general market analysis. For trade in international services,
Balance of Payments indexes are used for deflating National Income and Product Accounts, while
International indexes are more appropriate for market analysis. Merchandise and services indexes also
can be used to study U.S. competitiveness and to compute price elasticities, and the merchandise import
indexes by country or region of origin are useful in terms of trade analysis.
E-Mail Subscription -- The IPP news release is available through an e-mail subscription service at
(http://www.bls.gov/mxp) or (http://www.bls.gov/bls/newsrels.htm).
Additional Information -- More detailed IPP data are available on the IPP home page at
(http://www.bls.gov/mxp). Flat Files and the FTP server are available for users requiring access to
either a large volume of time series data or other IPP-related documentation. The FTP site can be
accessed at ftp://ftp.bls.gov. For technical assistance in using the BLS Internet site, send e-mail to
(labstat.helpdesk@bls.gov). For IPP data requests, send e-mail to (mxpinfo@bls.gov).
Information from this release will be made available to sensory impaired individuals upon request.
Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.